The story
Founded by Marcelo Mindlin in 2005.1
PAM on NYSE
Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5
Argentine energy company
Pampa Energía S.A. is the largest independent energy company in Argentina, with participation in the electricity and oil and gas value chain. It was founded in 2005 and is headquartered in Buenos Aires. Pampa is listed on the Buenos Aires Stock Exchange and is one of the Argentine companies with a greater weight on the Merval index (7.1809% as from January 1, 2019).3 It was founded by Marcelo Mindlin.1 Wikipedia text CC BY-SA 4.0
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Last updated Oct 20, 2026.
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Pampa Energía S.A. is the largest independent energy company in Argentina, with participation in the electricity and oil and gas value chain. It was founded in 2005 and is headquartered in Buenos Aires.3
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $1.9B in revenue.8
Out of $435.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.13
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $2.0B | $1.9B | $1.7B |
| Cost of sales | -$1.4B | -$1.3B | -$1.1B |
| Gross profit | $629.0M | $597.0M | $625.0M |
| Selling expenses | -$98.0M | -$74.0M | -$66.0M |
| Administrative expenses | -$192.0M | -$239.0M | -$185.0M |
| Exploration expenses | -$21.0M | -$7.0M | |
| Other operating income | $100.0M | $175.0M | $177.0M |
| Other operating expenses | -$72.0M | -$88.0M | -$88.0M |
| Recovery of impairment (Impairment) of property, plant and equipment, intangible assets and inventories | $15.0M | -$34.0M | -$39.0M |
| Impairment of financial assets | -$21.0M | -$56.0M | |
| Share of profit (loss) from associates and joint ventures | $142.0M | $146.0M | -$2.0M |
| Profit from sale/acquisition of companies interest | $34.0M | $9.0M | |
| Operating income | $503.0M | $440.0M | $424.0M |
| Financial income | $45.0M | $32.0M | $5.0M |
| Financial costs | -$196.0M | -$185.0M | -$364.0M |
| Other financial results | $230.0M | $211.0M | $558.0M |
| Financial results, net | $79.0M | $58.0M | $199.0M |
| Profit before income tax | $582.0M | $498.0M | $623.0M |
| Income tax | -$204.0M | $121.0M | -$318.0M |
| Profit of the year | $378.0M | $619.0M | $305.0M |
| Results related to defined benefit plans | -$5.0M | ||
| Income tax | $2.0M | ||
| Exchange differences on translation | -$26.0M | $123.0M | -$78.0M |
| Gain on cash flow hedges | $46.0M | ||
| Income tax | -$16.0M | ||
| Exchange differences on translation | -$25.0M | $138.0M | -$97.0M |
| Other comprehensive (loss) income of the year | -$21.0M | $261.0M | -$178.0M |
| Total comprehensive income of the year | $357.0M | $880.0M | $127.0M |
| Owners of the company | $377.0M | $619.0M | $302.0M |
| Non-controlling interest | $1.0M | $3.0M | |
| Profit of the year | $378.0M | $619.0M | $305.0M |
| Owners of the Company | $356.0M | $880.0M | $124.0M |
| Non-controlling interest | $1.0M | $3.0M | |
| Total comprehensive income of the year | $357.0M | $880.0M | $127.0M |
| Total basic earning per share | $0.28 | $0.46 | $0.22 |
| Total diluted earning per share | $0.28 | $0.46 | $0.22 |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.13
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Property, plant and equipment | $3.3B | $2.6B | ||
| Intangible assets | $89.0M | $95.0M | ||
| Right-of-use assets | $36.0M | $11.0M | ||
| Deferred tax asset | $43.0M | $157.0M | ||
| Investments in associates and joint ventures | $1.1B | $993.0M | ||
| Financial assets at fair value through profit and loss | $33.0M | $27.0M | ||
| Trade and other receivables | $43.0M | $75.0M | ||
| Total non-current assets | $4.6B | $4.0B | ||
| Inventories | $231.0M | $223.0M | $205.0M | $173.0M |
| Financial assets at amortized cost | $80.0M | |||
| Financial assets at fair value through profit and loss | $366.0M | $850.0M | ||
| Derivative financial instruments | $52.0M | $1.0M | ||
| Trade and other receivables | $614.0M | $488.0M | ||
| Cash and cash equivalents | $725.0M | $738.0M | $171.0M | $106.0M |
| Total current assets | $2.0B | $2.4B | ||
| Total assets | $6.6B | $6.3B | ||
| Share capital | $36.0M | $36.0M | ||
| Share capital adjustment | $191.0M | $191.0M | ||
| Share premium | $516.0M | $516.0M | ||
| Treasury shares adjustment | $1.0M | $1.0M | ||
| Treasury shares cost | -$54.0M | -$7.0M | ||
| Legal reserve | $44.0M | $44.0M | ||
| Voluntary reserve | $2.4B | $1.7B | ||
| Other reserves | -$12.0M | -$13.0M | ||
| Other comprehensive income | $124.0M | $119.0M | ||
| Retained earnings | $351.0M | $742.0M | ||
| Equity attributable to owners of the company | $3.6B | $3.3B | ||
| Non-controlling interest | $9.0M | $9.0M | ||
| Total equity | $3.6B | $3.3B | $2.4B | $2.3B |
| Provisions | $100.0M | $137.0M | ||
| Income tax and minimum notional income tax provision | $26.0M | $75.0M | ||
| Deferred tax liability | $56.0M | $49.0M | ||
| Tax liabilities | $212.0M | |||
| Defined benefit plans | $26.0M | $30.0M | ||
| Borrowings | $1.8B | $1.4B | ||
| Trade and other payables | $86.0M | $84.0M | ||
| Total non-current liabilities | $2.4B | $1.7B | ||
| Provisions | $13.0M | $10.0M | ||
| Income tax liability | $83.0M | $257.0M | ||
| Tax liabilities | $56.0M | $30.0M | ||
| Defined benefit plans | $6.0M | $7.0M | ||
| Salaries and social security payable | $36.0M | $39.0M | ||
| Borrowings | $48.0M | $706.0M | ||
| Trade and other payables | $397.0M | $253.0M | ||
| Total current liabilities | $639.0M | $1.3B | ||
| Total liabilities | $3.0B | $3.0B | ||
| Total liabilities and equity | $6.6B | $6.3B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Property, plant and equipment | $3.3B | $2.6B | ||
| Intangible assets | $89.0M | $95.0M | ||
| Right-of-use assets | $36.0M | $11.0M | ||
| Deferred tax asset | $43.0M | $157.0M | ||
| Investments in associates and joint ventures | $1.1B | $993.0M | ||
| Financial assets at fair value through profit and loss | $33.0M | $27.0M | ||
| Trade and other receivables | $43.0M | $75.0M | ||
| Total non-current assets | $4.6B | $4.0B | ||
| Inventories | $231.0M | $223.0M | $205.0M | $173.0M |
| Financial assets at amortized cost | $80.0M | |||
| Financial assets at fair value through profit and loss | $366.0M | $850.0M | ||
| Derivative financial instruments | $52.0M | $1.0M | ||
| Trade and other receivables | $614.0M | $488.0M | ||
| Cash and cash equivalents | $725.0M | $738.0M | $171.0M | $106.0M |
| Total current assets | $2.0B | $2.4B | ||
| Total assets | $6.6B | $6.3B | ||
| Share capital | $36.0M | $36.0M | ||
| Share capital adjustment | $191.0M | $191.0M | ||
| Share premium | $516.0M | $516.0M | ||
| Treasury shares adjustment | $1.0M | $1.0M | ||
| Treasury shares cost | -$54.0M | -$7.0M | ||
| Legal reserve | $44.0M | $44.0M | ||
| Voluntary reserve | $2.4B | $1.7B | ||
| Other reserves | -$12.0M | -$13.0M | ||
| Other comprehensive income | $124.0M | $119.0M | ||
| Retained earnings | $351.0M | $742.0M | ||
| Equity attributable to owners of the company | $3.6B | $3.3B | ||
| Non-controlling interest | $9.0M | $9.0M | ||
| Total equity | $3.6B | $3.3B | $2.4B | $2.3B |
| Provisions | $100.0M | $137.0M | ||
| Income tax and minimum notional income tax provision | $26.0M | $75.0M | ||
| Deferred tax liability | $56.0M | $49.0M | ||
| Tax liabilities | $212.0M | |||
| Defined benefit plans | $26.0M | $30.0M | ||
| Borrowings | $1.8B | $1.4B | ||
| Trade and other payables | $86.0M | $84.0M | ||
| Total non-current liabilities | $2.4B | $1.7B | ||
| Provisions | $13.0M | $10.0M | ||
| Income tax liability | $83.0M | $257.0M | ||
| Tax liabilities | $56.0M | $30.0M | ||
| Defined benefit plans | $6.0M | $7.0M | ||
| Salaries and social security payable | $36.0M | $39.0M | ||
| Borrowings | $48.0M | $706.0M | ||
| Trade and other payables | $397.0M | $253.0M | ||
| Total current liabilities | $639.0M | $1.3B | ||
| Total liabilities | $3.0B | $3.0B | ||
| Total liabilities and equity | $6.6B | $6.3B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.13
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Profit of the year | $378.0M | $619.0M | $305.0M |
| Adjustments to reconcile net profit to cash flows from operating activities | $418.0M | $152.0M | $406.0M |
| Changes in operating assets and liabilities | -$18.0M | -$336.0M | -$136.0M |
| Net cash generated by operating activities | $778.0M | $435.0M | $575.0M |
| Payment for property, plant and equipment acquisitions | -$993.0M | -$447.0M | -$758.0M |
| Collection for sales (Payment for purchases) of public securities and shares, net | $592.0M | -$5.0M | $130.0M |
| Recovery (Suscription) of mutual funds, net | $3.0M | -$10.0M | $96.0M |
| Capital integration in companies | -$44.0M | ||
| Payment for companiesacquisitions | -$1.0M | -$48.0M | -$1.0M |
| Collection for equity interests in companies sales | $1.0M | $39.0M | $72.0M |
| Collection for joint ventures share repurchase | $37.0M | ||
| Collections for property, plant and equipment sales | $1.0M | ||
| Collections for intangible assets sales | $9.0M | $20.0M | |
| Dividends collection | $25.0M | $9.0M | |
| Collection for equity interests in areas sales | $7.0M | $9.0M | |
| Cash addition for purchase of subsidiary | $71.0M | ||
| Collection (Payment) of loans | $1.0M | -$6.0M | |
| Net cash used in investing activities | -$401.0M | -$344.0M | -$446.0M |
| Proceeds from borrowings | $986.0M | $1.2B | $424.0M |
| Payment of borrowings | -$306.0M | -$236.0M | -$191.0M |
| Payment of borrowings interests | -$161.0M | -$145.0M | -$280.0M |
| Repurchase and redemption of corporate bonds | -$837.0M | -$313.0M | -$6.0M |
| Dividends payment | -$1.0M | -$1.0M | |
| Payment for treasury shares acquisition | -$47.0M | ||
| Payments of leases | -$24.0M | -$4.0M | -$3.0M |
| Net cash (used in) generated by financing activities | -$390.0M | $476.0M | -$57.0M |
| (Decrease) Increase in cash and cash equivalents | -$13.0M | $567.0M | $72.0M |
| Exchange difference generated by cash and cash equivalents | -$7.0M | ||
| (Decrease) Increase in cash and cash equivalents | -$13.0M | $567.0M | $72.0M |
No quarter-by-quarter statement was filed.
Pampa Energía sits at the top of its group. 6 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Pampa Energía
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What Pampa Energía reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $2.6B8 Dec 31, 2024 | $2.5B8 Dec 31, 2023 | +2.5% |
| Operating-lease assets (leased space) | $11.0M8 Dec 31, 2024 | $21.0M8 Dec 31, 2023 | −47.6% |
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $738.0M8 Dec 31, 2024 | $171.0M8 Dec 31, 2023 | +331.6% |
Founded by Marcelo Mindlin in 2005.1
Who has led Pampa Energía, and when. Pick a name to see everywhere that person has worked.
Listed on Wikidata.1
In the electricity value chain, as of December 31, 2018, Pampa's power generation segment has an installed capacity of 3,871 MW, which represents 10% of Argentina's installed capacity. 504 MW expansions are in the pipeline to be developed by the Company, increasing total installed capacity to 4,375 MW. The power transmission segment is composed by Transener, company co-controlled by Pampa, which operates and maintains the Argentine high voltage transmission grid covering more than 14.5 thousand km of lines, as well as 6.2 thousand km of Transba high voltage lines. Transener transports 85% of the electricity in Argentina. The electricity distribution segment is composed of Edenor, the largest electricity distribution utility in Argentina, with 3 million customers and a concession area covering the Northern City of Buenos Aires and Northwestern Greater Buenos Aires.
Pampa started to develop gas upstream in 2009, with the creation of Petrolera Pampa. In 2016, Pampa enhanced their oil and gas segment by acquiring the Petrobras Argentina, which was formerly PeCom Energía and later the former Argentine subsidiary of Petrobras. Pampa currently holds in their oil and gas segment both operated and not operated blocks in Neuquina, San Jorge and Noroeste Basin, which average production from Argentina amounted to 47 thousand barrels of oil equivalent per day, with operations in 11 production blocks and 869 productive wells (March 2019). In midstream, Pampa's assets are made up by their indirect interest in TGS, the country's major gas transportation company, owning a 9,231 km-long gas pipeline network and a liquids processing plant, General Cerri, with an output capacity of 1 million tons per year. In downstream, Pampa holds 28.5% direct interest in Refinor, which has a refinery with an installed capacity of 25.8 thousand oil barrels per day, 81 gas stations and a processing capacity of 390 thousand tonnes per year. Pampa also owns three high-complexity petrochemical plants producing styrene, SBR and polystyrene, with a domestic market share ranging between 80% and 100%.
From Wikipedia’s article on Pampa Energía, shared under CC BY-SA 4.0.7
From Wikidata.1
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
275 filings to the SEC since October 2021: 5 annual reports, 49 insider forms, 6 large holders, 215 other. The latest 20:
The 275 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
26 open-market trades by officers, directors and large owners since October 2021: 12 buys and 14 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 25, 2026 | Mariani GustavoVicepresident | Buy | 25,000 | $78.26 | $2.0M | Form 4 |
| Aug 31, 2026 | Mindlin Marcos MarceloDirector | Buy | 500,000 | $3.44 | $1.7M | Form 4 |
| Aug 27, 2026 | Mindlin Marcos MarceloDirector | Buy | 150,000 | $3.38 | $507.0K | Form 4 |
| Aug 21, 2026 | Mindlin Marcos MarceloDirector | Buy | 675,000 | $3.38 | $2.3M | Form 4 |
| Aug 19, 2026 | Mindlin Marcos MarceloDirector | Buy | 902,975 | $3.34 | $3.0M | Form 4 |
| Aug 18, 2026 | Mindlin Marcos MarceloDirector | Buy | 396,950 | $3.35 | $1.3M | Form 4 |
| Jul 8, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,500,000 | $3.55 | $5.3M | Form 4 |
| Jul 1, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,502,000 | $3.41 | $5.1M | Form 4 |
| Jun 26, 2026 | Mindlin Marcos MarceloDirector | Buy | 287,916 | $3.37 | $970.3K | Form 4 |
| Jun 25, 2026 | Mindlin Marcos MarceloDirector | Buy | 383,600 | $3.37 | $1.3M | Form 4 |
| Jun 24, 2026 | Mindlin Marcos MarceloDirector | Buy | 739,178 | $3.36 | $2.5M | Form 4 |
| Jun 3, 2026 | Mindlin Damian MiguelVice President | Sale | 555,000 | $3.55 | $2.0M | Form 4 |
| Jun 1, 2026 | Mindlin Damian MiguelVice President | Sale | 814,000 | $3.69 | $3.0M | Form 4 |
| May 27, 2026 | Mindlin Marcos MarceloDirector | Buy | 275,000 | $3.37 | $926.8K | Form 4 |
| May 19, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,800,000 | $3.48 | $6.3M | Form 4 |
| May 8, 2026 | Mariani GustavoVicepresident | Buy | 25,000 | $81.02 | $2.0M | Form 4 |
| May 8, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,800,000 | $3.35 | $6.0M | Form 4 |
| May 7, 2026 | Mariani GustavoVicepresident | Buy | 25,000 | $81.40 | $2.0M | Form 4 |
| Apr 22, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,500,000 | $3.51 | $5.3M | Form 4 |
| Apr 20, 2026 | Mindlin Marcos MarceloDirector | Sale | 1,250,000 | $3.43 | $4.3M | Form 4 |
All 26 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 86. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Jan 19, 2024 | Tommy TubervilleRepublican, Senate | Sale | $1,001 - $15,000 | −8.5% | Report |
| Apr 3, 2023 | Tommy TubervilleRepublican, Senate | Buy | $1,001 - $15,000 | +44.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
How Pampa Energía is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
425 (16), SC 13D/A (16), SC 13G (10), F-4/A (8), 6-K/A (7), SC 13D (6), SC TO-T/A (6), 424B3 (4), 3/A (3), EFFECT (3), SC 13E3/A (3), SD (3), 20-F/A (2), F-4 (2), SCHEDULE 13D/A (2), 144/A (1), 20FR12B (1), 424B2 (1), CERTNYS (1), DEL AM (1), F-3ASR (1), F-6 (1), FWP (1), NT 20-F (1), SC 13E3 (1), SC TO-T (1), SCHEDULE 13D (1)
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock | PAM | New York Stock Exchange |
From the cover page of the 20-F filed Apr 9, 2026 (Section 12(b) of the Exchange Act).33
The numbers on this page point here. Each one links to the record it came from.